RECOMMENDATIONS TO THE COMMISSION ON HEDGE FUNDS AND PRIVATE EQUITY

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23 September 2008

Hudghton (Greens/EFA) - The Rasmussen report comes at an appropriate time in the week following the financial turmoil which saw Scotland's oldest bank being sacrificed by, in the words of Scotland's First Minister, "spivs and speculators". The Scottish financial sector has been let down badly by the UK's regulators and I support tighter regulation of the market. I voted in favour of the report which contains a number of recommendations which are worthy of consideration and look forward to the day when independent Scottish regulators will work in this area in cooperation with our EU partners.